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Martin Shkreli Found Guilty On 3 Counts, Including Securities Fraud

Martin Shkreli Found Guilty On 3 Counts, Including Securities Fraud

Martin Shkreli, the quasi-imfamous "pharma bro" has been found guilty of three federal counts of securities fraud and was found not guilty on five additional counts.

Shkreli was on his YouTube channel chatting with fans and sparring with a reporter after Friday's verdict.

Brafman also said, "I think this verdict is a reasonably good verdict under the circumstances ... we are 90 percent pleased".

"He's likely going to second guess his decision to not plea and he'll have a long time to think about it", said David Chase, a former prosecutor for the Securities and Exchange Commission. "And if I'm acquitted, I get to f- Lauren Duca", calling it "just my fantasy". He was vindicated of five of the charges, including the most genuine, which permitted Shkreli and his safeguard group to guarantee triumph. The government charged him with defrauding investors in MSMB Capital Management, his former hedge fund, and with stealing stock from shareholders of Retrophin, a publicly traded drug company that he ran; the government alleged that he used those shares to repay his hedge-fund investors.

The defense attorney tried to soften these claims by saying Shkreli ultimately made his wealthy investors even more wealthy, and that he would continue to do so if he is spared jail time.

Shkreli did admit that the case will make his future trickier to navigate.

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In the past, bodies of foreign militants were handed over to local Auqaf committees for burial in the Valley. The other militant killed with him was Arif Nabi Dar alias Rehan alias Arif Lalhari, a local Kashmiri.

Outside the courthouse, protection lawyer Benjamin Brafman said that Shkreli's troublesome identity muddled the case. As he spoke, Shkreli smiled and cocked his head quizzically in mock confusion.

Deliberations on the eight counts against him began on Monday and lasted approximately 36 hours total.

Boosting drug prices was not why he was on trial, though the defense questioned whether prosecutors would have brought the case if not for Shkreli's reputation.

Former pharmaceutical company CEO Martin Shkreli, right, walks out of federal court with members of his legal team, Thursday, Aug. 3, 2017, in NY.

"This was a witch hunt of epic proportions", he said in NY after the verdict. He joked that maybe prosecutors "found one or two broomsticks". He was released until sentencing, which has yet to be set. The jury found him guilty on three out of eight counts Friday. After losing a bunch of money quickly-and investing in his own pharmaceuticals company, Retrophin-Shkreli continued to send out false statements to investors claiming they were making money.

Federal prosecutors accused Shkreli of cheating investors out of more than $11 million between 2009 and 2014 in what amounted to a Ponzi scheme. He said that Shkreli never meant to defraud anyone, and called him an "honest kid". The Retrophin board of directors later sued Shkreli and he was ousted from the company for which he served as CEO. "I'm still one of the richest New Yorkers and that won't change".


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